A merchant gets a 5% discount on each meter of fabric he buys after the first 2,000 meters and a 7% discount on every meter after the next 1,500 meters. The price, before discount, of one meter of fabric is $2, what is the total amount of money the merchant spends on 4,500 meters of fabric?
A. $8,617
B. $8,710
C. $8,810
D. $8,835
E. $8,915
Correct Answer: B
Explanation/Reference:
Explanation:
The price of the first 2,000 meters of fabric is $2 = $4,000. The price of the next 1,500 meters is 95% of $2 = $1.9 = $2,850. The price of the last 1,000 meters is 93% of $2 = $1.86 = $1,860. The total amount spent is: $4,000+$2,850+$1,860=$8,710.
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